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You may have seen the invitation sent out by Motorola for an event in New York on August 1. The company is expected to officially unveil its next flagship device dubbed the Moto X.

The Moto X benefits from the resources of Google, as it is a Google device with Motorola’s brand name. Like many other Google samrtphones, the Moto X will also be a high-end smartphone device but will be available at an affordable price rate.

Though, both the partners haven’t revealed the specs details of the Moto X, rumor mills are already churning out the reports of possible features for the handset.

It was back in May that Motorola’s CEO Dennis Woodside first confirmed that the Moto X device is real and announced that it will be in the market before this October.

The manufacturer had also officially switched on a sign-up page for the Moto X, where interested customers can get an opportunity to learn more about the handset before its launch.

The Motorola invitation shows that the device will be coming in two color options, black and white. But, it could be also possible that in future you will get to see more colors.

Talking of the design of the Moto X, earlier rumors and leaks suggest that the device would have an entirely new design and will have a curvy back and a plain soft-touch finish instead Motorola’s traditional design format that includes angular shoulder and Kevlar coatings.

Another major rumor about the Moto X suggests that the handset will be customizable. Earlier, Motorola’s adviser Guy Kawasaki had hinted that the company may allow for custom design handsets.

If this turns true, you can get your own customized Moto X handset. However, right now, we are unable to say what are the components exactly will be customizable. May be it would be the color, the capacity, the apps or the finish.

It is also said that the Moto X will have contextually aware setting. The term contextually aware mean that the handset can detect the location and have sensors for light and spatial positioning. In other words, if your phone can sense you’re outside at night, it may turn on night settings. Also, the handset was shown to have onscreen notifications named Active Updates.

Another rumored feature of the Moto X phone will be its camera app, that lets a simple flick of the wrist to launch the app from your pocket.

A few of the rumored specifications of the Moto X include a 720p HD AMOLED display, 1.7GHz dual-core Qualcomm Snapdragon MSM8960 Pro processor, 16 GB internal storage, 2 GB of RAM and a 10-megapixel camera.

While early rumors suggested that the Moto X would be pre-loaded with Android 4.2.2 Jelly but recent rumors indicates that it will have Android 4.3.

In a recent image leak, Google’s CEO Eric Schmidt was spotted holding a Moto X handset, which indicates that the smartphone is almost ready for launch. A few rumors say that the smartphone would arrive on August 23 at sales counters.